This Billionaire Investor Says AI Revolution Is 'Terrifying' — But He's Betting Billions On It: 'Jobs Of 15 People Done By A Chatbot' - NVIDIA (NASDAQ:NVDA)

Core Insights - Barry Sternlicht, CEO of Starwood Capital, warns about the rapid expansion of AI and data centers, highlighting potential economic and social costs [1][2] - Sternlicht emphasizes that AI's ability to replace jobs is alarming, citing that a chatbot can perform tasks of 15 people for just $36 a month [2] - Geoffrey Hinton, a prominent figure in AI, suggests that AI firms are focused on replacing human labor to maximize profits [3] Industry Trends - The current AI boom is drawing comparisons to the dotcom bubble and the 2008 financial crisis, with concerns about a potential AI-driven bubble emerging on Wall Street [4] - Recent market volatility has resulted in over $1 trillion being wiped from the market value of major tech companies, including Nvidia, which lost more than $500 billion [4] - The interconnectedness of hyperscalers, infrastructure providers, and AI startups is seen as opaque and potentially unsustainable, with projections indicating that the compute required for AI data centers could exceed 120% of U.S. GDP if all announced centers come online [5]